Wintrust Financial (NASDAQ:WTFC) Sets New 52-Week High – Here’s What Happened

Wintrust Financial Co. (NASDAQ:WTFC)’s share price hit a new 52-week high on Friday . The stock traded as high as $136.20 and last traded at $136.09, with a volume of 62033 shares. The stock had previously closed at $133.63.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WTFC shares. Piper Sandler increased their price objective on shares of Wintrust Financial from $131.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. DA Davidson raised their target price on shares of Wintrust Financial from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and issued a $130.00 target price on shares of Wintrust Financial in a research report on Tuesday, October 22nd. Citigroup increased their target price on Wintrust Financial from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Raymond James upped their price target on shares of Wintrust Financial from $125.00 to $135.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Wintrust Financial Stock Performance

The stock has a market capitalization of $9.06 billion, a PE ratio of 14.00 and a beta of 1.15. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.73. The firm’s 50-day simple moving average is $115.46 and its two-hundred day simple moving average is $105.94.

Wintrust Financial (NASDAQ:WTFC) last announced its quarterly earnings results on Monday, October 21st. The bank reported $2.47 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.03). Wintrust Financial had a net margin of 16.52% and a return on equity of 11.99%. The firm had revenue of $615.73 million during the quarter, compared to the consensus estimate of $623.45 million. During the same period in the previous year, the firm posted $2.53 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Wintrust Financial Co. will post 10.12 earnings per share for the current fiscal year.

Wintrust Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 7th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, November 7th. Wintrust Financial’s dividend payout ratio is 18.85%.

Insider Buying and Selling

In related news, COO David A. Dykstra sold 15,492 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $115.48, for a total value of $1,789,016.16. Following the completion of the sale, the chief operating officer now directly owns 197,591 shares of the company’s stock, valued at $22,817,808.68. The trade was a 7.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David L. Stoehr sold 1,607 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $113.46, for a total transaction of $182,330.22. Following the completion of the transaction, the chief financial officer now directly owns 14,874 shares in the company, valued at approximately $1,687,604.04. The trade was a 9.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,198 shares of company stock valued at $2,445,314. 1.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wintrust Financial

Hedge funds have recently modified their holdings of the company. Chartwell Investment Partners LLC grew its holdings in Wintrust Financial by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 11,049 shares of the bank’s stock valued at $1,200,000 after buying an additional 89 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Wintrust Financial by 11.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 866 shares of the bank’s stock valued at $85,000 after purchasing an additional 91 shares during the period. Shaker Investments LLC OH increased its stake in shares of Wintrust Financial by 0.3% in the third quarter. Shaker Investments LLC OH now owns 28,928 shares of the bank’s stock worth $3,140,000 after buying an additional 96 shares during the period. Captrust Financial Advisors boosted its position in Wintrust Financial by 2.8% during the 3rd quarter. Captrust Financial Advisors now owns 3,859 shares of the bank’s stock valued at $419,000 after buying an additional 104 shares during the period. Finally, MML Investors Services LLC grew its holdings in Wintrust Financial by 1.7% in the 3rd quarter. MML Investors Services LLC now owns 6,201 shares of the bank’s stock worth $673,000 after acquiring an additional 106 shares during the last quarter. Institutional investors own 93.48% of the company’s stock.

Wintrust Financial Company Profile

Wintrust Financial Corporation operates as a financial holding company. It operates in three segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment offers non-interest bearing deposits, non-brokered interest-bearing transaction accounts, and savings and domestic time deposits; home equity, consumer, and real estate loans; safe deposit facilities; and automatic teller machine (ATM), online and mobile banking, and other services.